Related Keywords: China, cotton bales, dull market seen, leading spinners kept on sidelines, Pakistan cotton market, process of trading, ready business, reduction in cotton cultivation, seed cotton, spot rate, top growing region
Dull market was seen on the cotton market on Tuesday as leading spinners kept on the sidelines in the process of trading. In the ready business, about 1400 bales of cotton changed hands at Rs 5550, dealers said.
In Sindh, prices of seed cotton at Rs 1600 and Rs 2800, in the Punjab, rates were at Rs 2000 and Rs 3000. The official spot rate remained unchanged at Rs 5,350.
As per the market sources, the spinners were not keen in making fresh deals because they are already facing losses due to high risk of doing business in absence of incentives by the government.
